In 2020, first time buyers paid higher total mortgage payments relative to their income compared to people who already owned a home. The mortgage payment of first time buyers was 17.1 percent of income, while for former owners it was 16.2 percent. The total mortgage payment refers to the total of all monthly payments over the full term of the mortgage.
Total mortgage payment as a percentage of income in the United Kingdom (UK) from 2000 to 2020, by type of buyer (in GBP)
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Office for National Statistics (UK). (July 17, 2021). Total mortgage payment as a percentage of income in the United Kingdom (UK) from 2000 to 2020, by type of buyer (in GBP) [Graph]. In Statista. Retrieved July 02, 2022, from https://www.statista.com/statistics/1106852/share-of-mortgage-payment-from-income-united-kingdom-first-time-buyers-and-former-owners/
Office for National Statistics (UK). "Total mortgage payment as a percentage of income in the United Kingdom (UK) from 2000 to 2020, by type of buyer (in GBP)." Chart. July 17, 2021. Statista. Accessed July 02, 2022. https://www.statista.com/statistics/1106852/share-of-mortgage-payment-from-income-united-kingdom-first-time-buyers-and-former-owners/
Office for National Statistics (UK). (2021). Total mortgage payment as a percentage of income in the United Kingdom (UK) from 2000 to 2020, by type of buyer (in GBP). Statista. Statista Inc.. Accessed: July 02, 2022. https://www.statista.com/statistics/1106852/share-of-mortgage-payment-from-income-united-kingdom-first-time-buyers-and-former-owners/
Office for National Statistics (UK). "Total Mortgage Payment as a Percentage of Income in The United Kingdom (Uk) from 2000 to 2020, by Type of Buyer (in Gbp)." Statista, Statista Inc., 17 Jul 2021, https://www.statista.com/statistics/1106852/share-of-mortgage-payment-from-income-united-kingdom-first-time-buyers-and-former-owners/
Office for National Statistics (UK), Total mortgage payment as a percentage of income in the United Kingdom (UK) from 2000 to 2020, by type of buyer (in GBP) Statista, https://www.statista.com/statistics/1106852/share-of-mortgage-payment-from-income-united-kingdom-first-time-buyers-and-former-owners/ (last visited July 02, 2022)